B. Riley Brokers Cut Earnings Estimates for Stoneridge, Inc. (NYSE:SRI)

Stoneridge, Inc. (NYSE:SRI) – Equities research analysts at B. Riley decreased their Q2 2019 EPS estimates for Stoneridge in a research report issued on Wednesday, April 3rd, according to Zacks Investment Research. B. Riley analyst C. Horn now expects that the auto parts company will earn $0.35 per share for the quarter, down from their prior estimate of $0.40. B. Riley also issued estimates for Stoneridge’s Q3 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $1.58 EPS, Q1 2020 earnings at $0.52 EPS, Q2 2020 earnings at $0.52 EPS, Q3 2020 earnings at $0.50 EPS, Q4 2020 earnings at $0.51 EPS and FY2020 earnings at $2.05 EPS.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. Stoneridge had a net margin of 6.27% and a return on equity of 21.57%. The firm had revenue of $210.81 million for the quarter, compared to analysts’ expectations of $210.47 million.

Several other equities analysts have also recently weighed in on SRI. Buckingham Research set a $32.00 price objective on shares of Stoneridge and gave the stock a “buy” rating in a research note on Friday, December 28th. Zacks Investment Research upgraded shares of Stoneridge from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Stephens reiterated a “buy” rating and issued a $31.00 price objective on shares of Stoneridge in a research note on Sunday, January 6th. Finally, Barrington Research reiterated a “buy” rating and issued a $35.00 price objective on shares of Stoneridge in a research note on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.33.

Shares of NYSE:SRI traded up $0.25 during trading on Thursday, hitting $31.67. The company’s stock had a trading volume of 93,784 shares, compared to its average volume of 243,587. Stoneridge has a 12 month low of $21.91 and a 12 month high of $37.69. The company has a quick ratio of 1.64, a current ratio of 2.17 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $900.74 million, a PE ratio of 15.91 and a beta of 1.09.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc bought a new stake in Stoneridge during the 4th quarter worth approximately $26,000. Lake Point Wealth Management bought a new stake in Stoneridge during the 4th quarter worth approximately $33,000. First Interstate Bank raised its stake in Stoneridge by 31.9% during the 4th quarter. First Interstate Bank now owns 4,868 shares of the auto parts company’s stock worth $120,000 after acquiring an additional 1,178 shares during the period. Legal & General Group Plc raised its stake in Stoneridge by 10.0% during the 4th quarter. Legal & General Group Plc now owns 4,980 shares of the auto parts company’s stock worth $123,000 after acquiring an additional 452 shares during the period. Finally, Jefferies Group LLC bought a new stake in Stoneridge during the 3rd quarter worth approximately $209,000. Institutional investors own 94.56% of the company’s stock.

Stoneridge Company Profile

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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Earnings History and Estimates for Stoneridge (NYSE:SRI)

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